Tyers Asset Management LLC boosted its position in Ball Co. (NYSE:BLL) by 115.1% in the first quarter, HoldingsChannel reports. The firm owned 41,712 shares of the industrial products company’s stock after buying an additional 22,320 shares during the quarter. Tyers Asset Management LLC’s holdings in Ball were worth $2,413,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Massey Quick Simon & CO. LLC bought a new stake in Ball in the 1st quarter worth about $30,000. Pearl River Capital LLC bought a new stake in Ball in the 1st quarter worth about $30,000. Rockefeller Capital Management L.P. bought a new stake in Ball in the 1st quarter worth about $35,000. Global Retirement Partners LLC grew its position in Ball by 281.1% in the 4th quarter. Global Retirement Partners LLC now owns 644 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 475 shares in the last quarter. Finally, YorkBridge Wealth Partners LLC bought a new stake in Ball in the 1st quarter worth about $56,000. 82.33% of the stock is owned by institutional investors and hedge funds.
In related news, COO Daniel William Fisher sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $66.14, for a total transaction of $330,700.00. Following the sale, the chief operating officer now directly owns 34,045 shares in the company, valued at approximately $2,251,736.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman John A. Hayes sold 9,247 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $65.19, for a total transaction of $602,811.93. Following the sale, the chairman now owns 439,485 shares in the company, valued at $28,650,027.15. The disclosure for this sale can be found here. Insiders have sold a total of 41,655 shares of company stock worth $2,597,872 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.
Ball (NYSE:BLL) last released its earnings results on Thursday, May 2nd. The industrial products company reported $0.49 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.01). The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Ball had a net margin of 3.83% and a return on equity of 20.39%. The firm’s revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.50 earnings per share. As a group, sell-side analysts anticipate that Ball Co. will post 2.61 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a dividend of $0.15 per share. This is a boost from Ball’s previous quarterly dividend of $0.10. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Friday, May 31st. Ball’s dividend payout ratio is presently 27.27%.
BLL has been the subject of a number of recent analyst reports. Citigroup upped their price objective on shares of Ball from $61.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Zacks Investment Research raised shares of Ball from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. KeyCorp reiterated a “hold” rating on shares of Ball in a research note on Thursday, May 2nd. BMO Capital Markets cut shares of Ball from an “outperform” rating to a “market perform” rating and set a $58.10 target price on the stock. in a research note on Monday, April 8th. They noted that the move was a valuation call. Finally, UBS Group cut shares of Ball from a “buy” rating to a “neutral” rating and set a $58.00 target price on the stock. in a research note on Friday, February 15th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $56.93.
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Ball Company Profile
Ball Corp. provides metal packaging for beverages, foods and household products, and of aerospace and other technologies and services to commercial and governmental customers. It operates through the following business segments: Beverage Packaging, North and Central America; Beverage Packaging, South America; Beverage Packaging, Europe; Food and Aerosol Packaging; and Aerospace.
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